WOODBURY, N.Y. — Top 100 specialty store Jennifer Convertibles said revenue from continuing operations rose

2.2% in its fourth quarter to $36.2 million, while earnings fell 39.1% from the same period a year ago to $1.6 million.

The year-ago period included $600,000 in receivables collected from a related private company.

In the year ended Aug. 26, revenue from continuing operations increased 15.8% to $140.4 million, and Jennifer posted net income of $5.2 million, compared with a loss of $3.9 million the previous year.

“We are extremely pleased with the results we achieved during fiscal 2013,” said CEO Harley Greenfield. “We reported significant increases in revenues and operating results for the year, demonstrating that our supply chain and merchandising strategy is producing strong top- and bottom-line growth.”
 
He said business softened late in the year, but comparisons remained positive.

“We were able to generate positive revenue and comparable-store sales growth for the quarter, despite being up against an extremely strong fourth quarter of last fiscal year,” Greenfield said. “We have recently seen a softening of demand, which may have an impact on first quarter results, but are confident the results for fiscal 2014 will continue to show solid revenues and operating results.”

The company closed three stores during the fiscal year — none in the fourth quarter — and reported results from those units as discontinued operations.

In late October, Jennifer announced it would open three Ashley Furniture HomeStores in metro New York.

The first such store is set to open in Carle Place, and Greenfield said the Ashley stores are expected to generate between $15 million and $20 million annually in revenues.

The chain includes 175 Jennifer Convertibles sofa-sleeper specialty stores and 16 Jennifer Leather stores. The company owns 166 stores and licenses 25, with 24 of the latter owned and operated by a private company related to Jennifer.